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Feb 22, 2013
02/13
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no take on the public finances and we can drive new business into our city. >> james, thanks very much for coming by. >> thank you. >>> today is the last trading day until the italian election on sunday. how will markets react to the outcome? julia just spoke to the ceo of borsi italiana. is it snowing there? >> yes. it's very pretty, isn't illustrate? but i can tell you, it's absolutely freezing. now, i did speak to the ceo of borse italiana. first, i want to show you one of the headlines suggesting that the parties are fearing the polls right now. what we're seeing is that beppe grillo has actually now, according to one of these secret polls, pulled ahead of sylvia berlusconi. interesting question, of course, what this means for a future coalition because mario monti has not seen in the secret surveys to have increased his number of votes at all. so question marks over whether they're going to be able to get enough votes to form any coalition here. as you can imagine, plenty of uncertainty here and that's one thing thatdy talk to the ceo about. how concerned is he about the process b
no take on the public finances and we can drive new business into our city. >> james, thanks very much for coming by. >> thank you. >>> today is the last trading day until the italian election on sunday. how will markets react to the outcome? julia just spoke to the ceo of borsi italiana. is it snowing there? >> yes. it's very pretty, isn't illustrate? but i can tell you, it's absolutely freezing. now, i did speak to the ceo of borse italiana. first, i want to show...
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Jan 11, 2013
01/13
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london is one of the key cities in the world. one of the things that was always lacking in the city was the ability to come up with a tall building and look down on the city in the same way as the eiffel tower, you can see paris, you can see new york, and this is a 21st century layer that has been added to the city. this is a sign of our times. >> it will have to be the highest toilet in london. talk about a loo with a view. >>> these are the headlines from around the globe. weakness in europe continues to weigh on germany. the economics minister warns gtp may have slowed sharply in the fourth quarter. bank stocks stayed higher lead by nokia. >>> and s&p says it expects to surpass its long-term revenue target. we've got industrial production numbers out for the uk in november. manufacturing output weaker than expected, down .3% on the month, 2.1% in europe. it was forecast down .5%. october manufacturing advised lows to miners 2% on the year, as well. november industrial production up 3.3% on the month, down 2.4% on the year. it
london is one of the key cities in the world. one of the things that was always lacking in the city was the ability to come up with a tall building and look down on the city in the same way as the eiffel tower, you can see paris, you can see new york, and this is a 21st century layer that has been added to the city. this is a sign of our times. >> it will have to be the highest toilet in london. talk about a loo with a view. >>> these are the headlines from around the globe....
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Jan 28, 2013
01/13
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you can see them the way you might see the city of minneapolis and the city of chicago. that's raising plenty of questions. over here, gold is continuing to sell off, down 1.6%. it's been under pressure for the last couple of weeks as growth prospects around the world have actually started to perk up a little bit. copper, though, is just fractionally lower, too. so it's different, perhaps, than what's happening with global demand. quick check off forex, we know the sterling has been weaker, but now another 0.4% against the dollars. 1.57 is the level there. it was shortly a go above 1.60. australian dollar, weaker, too. the dollar/yen, down by 0.3%. the euro/dollar down by 0.25%. 90.63 is the level here to watch, one of the biggest stories on for ex. let's get straight out to li sixuan who joins us now from singapore. >> thank you, kelly. a lot of focus was on japan today. shinzo abe used his first policy speech to high lie the importance for the boj to reach the 2% inflation target after new cabinets raised the country's growth outlook from 2.5% from april. but the nikke
you can see them the way you might see the city of minneapolis and the city of chicago. that's raising plenty of questions. over here, gold is continuing to sell off, down 1.6%. it's been under pressure for the last couple of weeks as growth prospects around the world have actually started to perk up a little bit. copper, though, is just fractionally lower, too. so it's different, perhaps, than what's happening with global demand. quick check off forex, we know the sterling has been weaker, but...
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Apr 16, 2013
04/13
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>> well, if we were looking at the -- between goalman or citi, we would look at citi in the sense of what they're being able to do. they're still trading at a discount to tangible value with a catalyst to close that gap. that citi holdings is rolling off as the losses in citi holdings are coming down. there's a near term catalyst that would drive it towards his tangible book value, which it trades at 15% below at this point. if you're looking between those three, citi would be the one that we look at. goldman is a whole other story. to return more than hreshold of it's coasting equity. so it's returning around 12%. cost of equity is around 12%. that's why it's trading at a little bit of a premium to tangible book value as they continue to produce greater returns, they'll push that premium higher and that's why we like gold mapp in the sense of the higher quality trade there. >> marty, you're talking about 20% return over the next year. where is that coming from? >> well, when we're looking at it, there's about 10% that you get out of the improvement and possibility. so right now they
>> well, if we were looking at the -- between goalman or citi, we would look at citi in the sense of what they're being able to do. they're still trading at a discount to tangible value with a catalyst to close that gap. that citi holdings is rolling off as the losses in citi holdings are coming down. there's a near term catalyst that would drive it towards his tangible book value, which it trades at 15% below at this point. if you're looking between those three, citi would be the one...
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Jan 16, 2013
01/13
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crash in the south of the city. british police are saying nothing to indicate the london helicopter crash is linked to terrorism. some questions have been raised by the closeness of the site to the u.s. embassy that will be constructed and open in several years' time. british police saying nothing at the moment to indicate there's any terrorism link. ross? >> yep. thanks. >>> we'll get up to speed with global markets. european markets subdued start, an hour and 20 minutes nearly into the session. footse 100 down, ibex down as well as cac. stocks under pressure as we might have expected. as far as bond markets, we'll show the yields at the moment. retail sales numbers out of the u.s. yesterday, treasury yields low, 1.25%. with that, syndicated 15-year, $6 billion they raised from that yesterday, italy's nearly funded 10% of their requirements for the year. here we are, only the second, third week of january. spanish yields over 5%. the bund action today, currently yielding 1.5%. as far as currency markets, the euro/d
crash in the south of the city. british police are saying nothing to indicate the london helicopter crash is linked to terrorism. some questions have been raised by the closeness of the site to the u.s. embassy that will be constructed and open in several years' time. british police saying nothing at the moment to indicate there's any terrorism link. ross? >> yep. thanks. >>> we'll get up to speed with global markets. european markets subdued start, an hour and 20 minutes nearly...
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Jan 14, 2013
01/13
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. >> it's really the only reason why we want to go there, it's the key city for the election. >> i'm just looking at the hotel there. >> it would have nothing to do with the wine & the food and -- >> there's shopping. >> there is that. this isn't the last we've heard from mario monti, although as long as that's a surprise to anyone. >> gererali, one of europe's largest, is promising a revolution. he has appointed a new cio/coo. he said the company will strengthen its investments in europe. shares have been volatile today. they're now down .7.5%. >> and credit suisse is set to cut the size of 2012 bonus by 20%. carolyn has got more from jake with the detail. hi, carolyn. >> hr there, ross. this is all based on a local press report of the weekend. nothing has been confirmed by credit swiss so far. but the fact that there is speculation over the bonus poll being reduced, that is a surprise. ubs is expected to do the same. the question is how big is the cut going to be? credit suisse has cut its bonus pool for the last three years. this year, it will be capped at around 2.3 billion. so t
. >> it's really the only reason why we want to go there, it's the key city for the election. >> i'm just looking at the hotel there. >> it would have nothing to do with the wine & the food and -- >> there's shopping. >> there is that. this isn't the last we've heard from mario monti, although as long as that's a surprise to anyone. >> gererali, one of europe's largest, is promising a revolution. he has appointed a new cio/coo. he said the company will...
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Dec 5, 2013
12/13
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the high cost cities are pushing for even higher wages. voters in sea-tac, washington, approved a $15 wage. now cities like chicago and new york are calling for wages of similar levels. i think what's driving this is what president obama called the defining challenge of our time in this economics talk yesterday. the fact is, the restaurant industry noted that the majority of the jobs our economy is creating are in these low payment fields like restaurant and retail. these aren't team jobs if they ever were. now tens of millions of adult americans spend their time cycling through these careers, these jobs. at $9 an hour, they're not sustainable. so what the fast food workers are calling for is a raise in pay and sit down with the industry for negotiationing a plan to transition to a higher wage, a higher productivity business model. >> how does the industry afford it? at the end of the day, higher wages is going to mean -- i mean, it's going to feed through and we're going to get higher cost of food, aren't we? >> so the road map for how to
the high cost cities are pushing for even higher wages. voters in sea-tac, washington, approved a $15 wage. now cities like chicago and new york are calling for wages of similar levels. i think what's driving this is what president obama called the defining challenge of our time in this economics talk yesterday. the fact is, the restaurant industry noted that the majority of the jobs our economy is creating are in these low payment fields like restaurant and retail. these aren't team jobs if...
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Jan 18, 2013
01/13
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home prices, though, continue to inch up in 70 cities across the country. up 0.4% month on month in december, this despite the government's measures to cool its property sector. new home prices fell in 54 of those cities. the mild uptrend is likely to continue supported by relatively loose monetary policy. joining us now for more is rob carnell. welcome. so china perhaps is trying to move investment from its property sector to the stock market. we're seeing the shanghai do better. are people right to think now that its performance is going to look better in 2013? >> that's a reasonable guess. one of the things we would look for is the change in the quarter on quarter growth in china. and it seems to be picking up. it's growth is seven consecutive down moves and this latest one shows it's turning around. so from a stock investor's point of view, that doesn't seem an entirely unreasonable thing. there's always the slight risk for china. growth starts to pick up. what is going to happen to inflation? it's okay at the moment. we have that property sector to wor
home prices, though, continue to inch up in 70 cities across the country. up 0.4% month on month in december, this despite the government's measures to cool its property sector. new home prices fell in 54 of those cities. the mild uptrend is likely to continue supported by relatively loose monetary policy. joining us now for more is rob carnell. welcome. so china perhaps is trying to move investment from its property sector to the stock market. we're seeing the shanghai do better. are people...
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Jun 24, 2013
06/13
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>> apart from some hotels in the beginning of the recession in the city center, i think hoteliers still survive in greece. everybody now understands that we are a tourism country and all greeks are doing their best to present a better product. things are difficult for the greek hoteliers but at the same time, we feel that we have to make a small victory. our country is going to stand up when small victories will happen and like the prime minister said, tourism is one victory we have to win. so we are very dedicated now to what we do. >> i'm the first to say that greece is tremendously beautiful. >> thank you. >> but do you think the image of greece has been tarnished for a lot of people where if they see austerity measures and protests and things like that every day on the front page of the papers that they choose to go to other places instead of choosing to go to some of the greek islands? >> i think that was an issue last year when we had the political situation with the double elections. we don't have a lot of protests now. things are quite calm in greece and i see from the result pe
>> apart from some hotels in the beginning of the recession in the city center, i think hoteliers still survive in greece. everybody now understands that we are a tourism country and all greeks are doing their best to present a better product. things are difficult for the greek hoteliers but at the same time, we feel that we have to make a small victory. our country is going to stand up when small victories will happen and like the prime minister said, tourism is one victory we have to...
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Sep 16, 2013
09/13
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the americans say it's been spread over 45 cities across the area and the russians are disputing it. in terms of use of force, the russians have said they're not going to autd thor rise the use of force. where does that leave the united states? >> bring you in on this. we are up to 1400. clearly there was a risk aversion at play. what happens now? how much of this can we put on the back burner? >> i think they put it on the back burner because of the time of year that we're in. it says i'm not on top of it being very disperse in terms of where they are and some of them have been moved into lebanon and into neighboring iraq. the issue isn't going too lo go away. those opposing mr. obama, which is pretty much everyone on capitol hill, think that it's spurious. mr. rouhani has to negotiate. that's what he came in on the promise of. people forget that iran has an economy. without negotiating with the iaea, there are going to be no removals of sanctions on iran. iran is caught into an interesting provision where they still support the assad regime. >> i think also you have to remember thi
the americans say it's been spread over 45 cities across the area and the russians are disputing it. in terms of use of force, the russians have said they're not going to autd thor rise the use of force. where does that leave the united states? >> bring you in on this. we are up to 1400. clearly there was a risk aversion at play. what happens now? how much of this can we put on the back burner? >> i think they put it on the back burner because of the time of year that we're in. it...
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Apr 29, 2013
04/13
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the city in the south of spain. we'll have a press conference in the afternoon. probably we'll have the details of the private decisions between the two ministers. but they will make some comments about the spanish new austerity new budget plan regarding the target, the growth target for this year of 1.3%. but the good points is that government believes that the spanish economy will grow out of recession from the end of the picture. >> at the end of the fist quarter, the spanish unemployment rate was at 27.2%. that was a record low. and if you look at the target, 27.1% at the end of the year. so also this means that the government believes that the association has reached a record number that will not climb any further. >> i think the point being is that government numbers are worth it. thanks for that. james butler is still with us, as well. >> germany wants spain to become more like germany, i.e., become more competitive. and there are signs that that is happening. the labor activity is wisening and labor costs are falling. they are becoming more competitive an
the city in the south of spain. we'll have a press conference in the afternoon. probably we'll have the details of the private decisions between the two ministers. but they will make some comments about the spanish new austerity new budget plan regarding the target, the growth target for this year of 1.3%. but the good points is that government believes that the spanish economy will grow out of recession from the end of the picture. >> at the end of the fist quarter, the spanish...
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May 31, 2013
05/13
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compared to almost 47% in the year prior and the proportion of city workers who received a bonus crashed by 14%. so there r a few lucky ones out there at ubs at the moment. back over to you. >> carolin, thank you very much for that. >>> basso gallo, we've been looking at the visco comments. they're super interesting. >> yeah. i think there's a broader message of a rate cut, which as we discussed will happen in our view between now and september. they also say the ecb will consider all measures, which means nonstandard measures outside the normal bank cuts and then he talked about banks initially. some of the banks in italy are still weak, for example, monte paschi or other banks in our stress tests are still feared as the weakest banks in europe shortly followed by some of the mid sized banks. banks need more capital and that's why they're not lending. this capital process will last several years, but the government so far has done very little. it has not done what space has done to restructure its bad banks like with bankia and other banks. italy has done very much. >> it says the ecb i
compared to almost 47% in the year prior and the proportion of city workers who received a bonus crashed by 14%. so there r a few lucky ones out there at ubs at the moment. back over to you. >> carolin, thank you very much for that. >>> basso gallo, we've been looking at the visco comments. they're super interesting. >> yeah. i think there's a broader message of a rate cut, which as we discussed will happen in our view between now and september. they also say the ecb will...
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Jul 15, 2013
07/13
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the best job in the world. >>> still to come, citi kicks off a slew of u.s. earnings. we'll ask if the good news will keep flowing for big banks. christine short will be with us from new york after this. the heat map in europe, we're weighted to the upside 7-2 advancers outpace decliners. ♪ [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] >>> citigroup reports at 8:00 a.m. eastern. this when revenues of $19.76 billion after wells fargo and jpmorgan beat expectations this the first round of their bank earnings. as mentioned citi kicks off a busy week. 75 companies the s&p are reporting. they expect overall earnings of 3.2% for the index this season. christine short is global markets intelligence senior manager and joins us now. christine, thanks for joining us this morning. how do you think we're going to go versus expecta
the best job in the world. >>> still to come, citi kicks off a slew of u.s. earnings. we'll ask if the good news will keep flowing for big banks. christine short will be with us from new york after this. the heat map in europe, we're weighted to the upside 7-2 advancers outpace decliners. ♪ [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically...
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Jan 17, 2013
01/13
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citi will be taking charges related to the government's foreclosure settlement. trade this morning up better than 2%. back with us is bill isaac, former fdic chairman global head of financial institutions at fdi consulting. bill, a quick comment from you on bank earnings. cb&t numbers out. they beat a little bit. do you think that the sector generally is healthier today than a year ago? >> oh, i think the banking system is much healthier than a year ago. there is still a lot of headwinds on earnings. in significant part, the enormous regulatory burden that has been imposed on the banks plus the economy. and regulators have been pushing the banks to raise their credit standards. i'm a little concerned that a lot of the earnings in the past year or so have come -- in the last couple of years have come from bringing back into the bank the excess reserves that were taken during the crisis. that's been an important part of the bank earnings. and then the mortgage re-phi boom in this interest rate environment has been a boom in the past couple of years. those are going
citi will be taking charges related to the government's foreclosure settlement. trade this morning up better than 2%. back with us is bill isaac, former fdic chairman global head of financial institutions at fdi consulting. bill, a quick comment from you on bank earnings. cb&t numbers out. they beat a little bit. do you think that the sector generally is healthier today than a year ago? >> oh, i think the banking system is much healthier than a year ago. there is still a lot of...
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Feb 8, 2013
02/13
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everyone is trying to get out of the city before the storm hits. but everything starting from now is basically canceled. >> it will be hard. if you are stuck, there's within thing you can do. >> which is? >> turn the tv on. >> and watch cnbcwex. >> get your food in -- >> and -- >> no, no, the entire channel is fine. you don't have to just watch "worldwide exchange." there are worse things you could do. >>> still to come on the show, apple says it's considering returning cash to shareholders after coming under pressure from david einhorn. more details when we come back. . this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. [ male announcer ] ok, here's the way the system works. let's say you pay your guy around 2% to manage your money. that's not much you think. except it's 2% every year. does that make a diffe
everyone is trying to get out of the city before the storm hits. but everything starting from now is basically canceled. >> it will be hard. if you are stuck, there's within thing you can do. >> which is? >> turn the tv on. >> and watch cnbcwex. >> get your food in -- >> and -- >> no, no, the entire channel is fine. you don't have to just watch "worldwide exchange." there are worse things you could do. >>> still to come on the show,...
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Jan 31, 2013
01/13
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city as early as the first half of this year. in hong kong, the hang seng lost .4%. the noble shares split 5.25% despite a record quarter in top and bottom line. that stock had gained 50% since last august to a multi year high. we are seeing some profit taking here. the kospi pulled back a modest 0.1% after gaining for two days. australia's asx 200 snapped a ten-day winning streak with miners losing. india's sensex now trading lower by 0.6%. back to you. >> sixuan, thanks for that. >>> now a couple of web stories popping online, the dow joins industrial average yesterday, just 46 points from topping that trading high. can it take out that 14,000 mark? find out what analysts have to say at cnbc.com. >>> after topping analyst estimates from the quarter, google is now priced at more than $750 a share. but if ths that stock going to from hot to too hot? find out on the website, as well. >>> despite the initial disappointment, some analysts are arguinging the release of the new blackberry will be positive. >>> still to come, the dream
city as early as the first half of this year. in hong kong, the hang seng lost .4%. the noble shares split 5.25% despite a record quarter in top and bottom line. that stock had gained 50% since last august to a multi year high. we are seeing some profit taking here. the kospi pulled back a modest 0.1% after gaining for two days. australia's asx 200 snapped a ten-day winning streak with miners losing. india's sensex now trading lower by 0.6%. back to you. >> sixuan, thanks for that....
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Nov 27, 2013
11/13
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the rain continues into new england. tapering off in new york city. but then the wind. the wind will be so much of a factor here. also, it's going to be a big factor for the macy's thanksgiving day parade. the winds may gust in excess of 30, 40 miles per hour. and that, ross, would have a big impact on the balloons, as you mentioned. >> could be balloonless. let's hope not. jen, have a greet thanksgiving day. safe travels for everybody on that. >>> a recap of the headlines, uk equities could trample further into u.s. equities. >>> hp shares jumping after hours as the enterprise division help offset falling pc sales. >>> and the german chancellor angela merkel has agreed to terms with a coalition government with the social democrats. >>> still to come, s&p is weighing in on the growing tabs for banks to settle all their mortgage related issues and two more wall street firms may be getting swept up in u.s. probes. we'll get the details right after this. [ male announcer ] this store knows how to handle a saturday crowd. ♪ [ male announcer ] the parking lot helps by lett
the rain continues into new england. tapering off in new york city. but then the wind. the wind will be so much of a factor here. also, it's going to be a big factor for the macy's thanksgiving day parade. the winds may gust in excess of 30, 40 miles per hour. and that, ross, would have a big impact on the balloons, as you mentioned. >> could be balloonless. let's hope not. jen, have a greet thanksgiving day. safe travels for everybody on that. >>> a recap of the headlines, uk...
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Dec 10, 2013
12/13
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as we go to the break, we'll bring you more shots from soccer city stadium where they're holding the nelson mandela memorial service. >>> crowd of around 95,000 people are gathering at johannesburg stadium to pay respect to former south african president nelson mandela at the soaker stadium. including the u.s. president pb pb, president barack obama. chris has more details on today's event. chris. >> well, the rain is falling and the crowds are flooding in. 95,000. you have to recall that a lot of the streets have been closed off around the stadium so that the sig tears can come in and out. that means that a lot of people have to either camp overnight, which a lot of people have done, or walk to the stadium. certainly the ceremony is under way, the marching bands on the pitch walking around, some of the big names are there like arch bishop desmond tutu, he's there. former president beheki. the former president's father, embicki was sentenced to life in prison along with mandela. soon, there will be tributes from family and friends for the next hour or so and then we'll move into the
as we go to the break, we'll bring you more shots from soccer city stadium where they're holding the nelson mandela memorial service. >>> crowd of around 95,000 people are gathering at johannesburg stadium to pay respect to former south african president nelson mandela at the soaker stadium. including the u.s. president pb pb, president barack obama. chris has more details on today's event. chris. >> well, the rain is falling and the crowds are flooding in. 95,000. you have to...
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Oct 24, 2013
10/13
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ubs and city had been saying this would be a good idea and after the result, city came out with a note saying, yes, this restructuring is a step in the right direction. it does warrant the rerating of the stock over time, even though the short-term challenges are still here. that is decline activity and difficulty in the bond trading market. that over time, city sees shares in credit suisse going up to some 35 francs. apart from that, numbers were a disappointment. and the main reason being a weakness in the fixed income business where revenues year on year fell 43%. overall, investment banking revenues were down 20%. and look, louisa, everyone knows that this past quarter was a difficult one because of jitters around the fed tapering. so to some extent, that weakness had been factored in. but what analysts didn't see was that the equities business, that was weaker than forecast. it didn't make up for some of the weakness that we saw on the fixed income business. so this is why shares are trading to the downside today. last i checked, down by 2.3%. but let's get away from all the negat
ubs and city had been saying this would be a good idea and after the result, city came out with a note saying, yes, this restructuring is a step in the right direction. it does warrant the rerating of the stock over time, even though the short-term challenges are still here. that is decline activity and difficulty in the bond trading market. that over time, city sees shares in credit suisse going up to some 35 francs. apart from that, numbers were a disappointment. and the main reason being a...
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Aug 12, 2013
08/13
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"the detroit news" says earlier this year city officials misplaced a $1 million check from the school system that wasn't found until a month later. sitting in a desk drawer. can you believe that? a spokesman for detroit's emergency manager says the incident is symbolic of the city's antiquated bureaucracy that helped it slide into bankruptcy. how can you misplace a $1 million check? >>> coming up, the dow snaps a six-week winning streak, so investors look to get things back on the winning track this week. we head to the bond pits in chicago to preview the trading week ahead next. [ male announcer ] come to the golden opportunity sales event to experience the precision handling of the lexus performance vehicles, including the gs and all-new is. ♪ this is the pursuit of perfection. [ male announcer ] come to the golden opportunity sales event and experience the connectivity of the available lexus enform, including the es and rx. ♪ this is the pursuit of perfection. >>> welcome back to the show. here is what european markets are doing. they are under pressure a little bit this mornin
"the detroit news" says earlier this year city officials misplaced a $1 million check from the school system that wasn't found until a month later. sitting in a desk drawer. can you believe that? a spokesman for detroit's emergency manager says the incident is symbolic of the city's antiquated bureaucracy that helped it slide into bankruptcy. how can you misplace a $1 million check? >>> coming up, the dow snaps a six-week winning streak, so investors look to get things back...
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Jan 7, 2013
01/13
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likes of citi, jpmorgan and bank of america are involved. nearly $4 billion will go to people who lost their homes in 2009 and '10. the rest will be for the foreclosure process. the times says the fed threatened to block the moves. philly fed president says a $3 billion balance sleet could codo harm to the u.s. economy. he plosser says that could lead to a rise in unemployment or more stability. he's long criticized the bond mortgage push chass. u.s. consumers have been stave ago recovery, quietly getting on with the job of supporting their economy. that's according to barclay's, which says the u.s. economy now has the potential to drive global growth in the year ahead. kevin gardiner issued that call and he's still with us. kevin, why are you feeling that optimistic? >> well, we think that against the u.s. consumers balance sheet is much stronger than people realize. there's the need for widespread deleveraging, the idea that consumers have to get rid of the debt from their balance sheets. it was very much in the financial sector. the consu
likes of citi, jpmorgan and bank of america are involved. nearly $4 billion will go to people who lost their homes in 2009 and '10. the rest will be for the foreclosure process. the times says the fed threatened to block the moves. philly fed president says a $3 billion balance sleet could codo harm to the u.s. economy. he plosser says that could lead to a rise in unemployment or more stability. he's long criticized the bond mortgage push chass. u.s. consumers have been stave ago recovery,...
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Nov 18, 2013
11/13
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this includes basically the jersey shore, places like philadelphia all the way up through new york city and connecticut this morning. so this goes through 8:00 local time here and we are on the watch for more damaging winds. however, that severe threat has now diminished so not expecting anymore tornadoes. certainly some good news there. taking you out to the radar right now, you can see the storms racing through the east right now. much of the heavier rain is in northern new england right now. still, new york city going to be getting wet throughout the day today. a wet start to this monday morning work week. back to you. >> all right, julie. thank you. that's the latest from the weather channel. if you've just joined us, record highs with the s&p and the dow. s&p away from 1800 this morning. futures a fairly flat start for the s&p 500. nasdaq is just a couple of points up. the dow up for six weeks in a row along with the s&p. they pulled it away. they fuldpulled it away as i wa able to say what it was. maybe we can put it back. anyway, the ftse 100 is currently a few points above fair
this includes basically the jersey shore, places like philadelphia all the way up through new york city and connecticut this morning. so this goes through 8:00 local time here and we are on the watch for more damaging winds. however, that severe threat has now diminished so not expecting anymore tornadoes. certainly some good news there. taking you out to the radar right now, you can see the storms racing through the east right now. much of the heavier rain is in northern new england right now....
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Jul 9, 2013
07/13
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the city lender has been stymied by freeze on new land offerings, waiting five years to hit the market. in february, reuters report hong kong ipo would happen this year, but on a smaller scale. >>> also a surprising turn around for german real estate company deutsche addington. last week they blamed poor market conditions. annette has more for us in frankfurt. >> half the volume they're bringing to the market and lower the price, so now apparently the whole thing is quite attractive for institutional investors. reuters and dow jones both report that already by today the share may conclude and that institutional investors are tapping into the offer. and if they're saying it may conclude, that means that the shared size is actually twice over subscribed, what brokers mean by that. let's have a look at the business itself. deutsche addington is the biggest housing real estate owner in germany. they started to buy off railway houses in 2001. and looking at the time spent from 2001 to now, of course the private equity owner guy hence needs to find an exit is now. and, of course, that pricin
the city lender has been stymied by freeze on new land offerings, waiting five years to hit the market. in february, reuters report hong kong ipo would happen this year, but on a smaller scale. >>> also a surprising turn around for german real estate company deutsche addington. last week they blamed poor market conditions. annette has more for us in frankfurt. >> half the volume they're bringing to the market and lower the price, so now apparently the whole thing is quite...
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Jun 17, 2013
06/13
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eviction of the protesters in the city's park on saturday night. turkish prime minister today -- the interior minister saying he's urging unions not to join illegal strikes. >>> airbus is on track to double its profit margin by 2015 according to the group's ceo. it also said the air express giant hopes to secure more than 800 new orders at the paris air show this week. setting the stage for a competitive fight with rival boeing which releases its commercial outlook later today as well. those comments come amid reports that international finance an a380 narrow jet worth about $5 billion. joining us from the international paris air show, our very own phil lebeau. phil, what's going to be the highlight for you this week? >> reporter: i can tell you what's the highlight for the next couple of hours, ross, rain. lots of rain. we're seeing a thunderstorm roll through the airport here today that is definitely catching everyone's attention. in fact, you're not going to see any flights for the foreseeable couple of hours. and i think a lot of people are loo
eviction of the protesters in the city's park on saturday night. turkish prime minister today -- the interior minister saying he's urging unions not to join illegal strikes. >>> airbus is on track to double its profit margin by 2015 according to the group's ceo. it also said the air express giant hopes to secure more than 800 new orders at the paris air show this week. setting the stage for a competitive fight with rival boeing which releases its commercial outlook later today as well....
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Jul 24, 2013
07/13
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stay tuned as we discuss the case at 10:40 cet. >>> on today's show, the motor city has its day in court. the judge set to rule on whether detroit can file for the biggest municipal bankruptcy in u.s. history. >>> and boeing is set to answer investor concerns over the dreamliner's latest woes when it reports earnings later today. cnbc's phil lebeau joins us from the aerospace giant's hometown of chicago. that's at 11:45 cet. >>> and as the slew of tick earnings continues across the globe, we cross to seoul for lg electronics results in a few minute. >>> apple's solid earnings boost suppliers across asia. we'll have expert analysis live from hong kong after the break. >>> the once lost lotus submideastern car from the james bond film is set to go up for auction. robert frank has all the details. >> it is one of the most famous 007 cars ever, the lotus esprit that became a submarine. ♪ after the movie, the car mysteriously vanished and then in 1989, a long island man who rented tools for a living, bought a storage container, sight unseen like the storage war shows. he paid $100 for what
stay tuned as we discuss the case at 10:40 cet. >>> on today's show, the motor city has its day in court. the judge set to rule on whether detroit can file for the biggest municipal bankruptcy in u.s. history. >>> and boeing is set to answer investor concerns over the dreamliner's latest woes when it reports earnings later today. cnbc's phil lebeau joins us from the aerospace giant's hometown of chicago. that's at 11:45 cet. >>> and as the slew of tick earnings...
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Jan 30, 2013
01/13
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when the spanish economy is declining and citi forecasts seeing total debt-to-gdp will go to 120% debt-to-gdp by 2014. still in contraction. if that happens, how much more money do they have to put into the banks? how much more of a fall will we have in real estate prices? >> this is the problem. once you get into a systemic crisis and real estate prices fall, what you need to create a flaw, a clearing price, you need someone to be lending to the buyers at the foreclosure auctions. this is a real issue in a systemic crisis because all the banks are trying to shrink their numbers and no one wants to lend to the guy in the auction room saying, hey, down 50%, i wouldn't mind buying this. look at where all of the banks had funding gaps, they still doing thisment trophy assets put on the market down 90% and still no buyers. this is a real issue. >> does it just not mean that the spanish government is going to have to go? it's very well having cheaper funding, but if there's still no availability of that feeding through to the economy, they have to get the omt. >> the important thing is to understa
when the spanish economy is declining and citi forecasts seeing total debt-to-gdp will go to 120% debt-to-gdp by 2014. still in contraction. if that happens, how much more money do they have to put into the banks? how much more of a fall will we have in real estate prices? >> this is the problem. once you get into a systemic crisis and real estate prices fall, what you need to create a flaw, a clearing price, you need someone to be lending to the buyers at the foreclosure auctions. this...
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May 30, 2013
05/13
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the city of dijon held a similar auction in january raising 150,000 euros to help fund its social services and analysts predict we could see more austerity driven wine sales across europe in the future. >>> now, unmanned aerial vehicles, better known as drones, are often associated with military operations. but some argue there's a great business opportunity behind the technology as drones capitalize on both national security and commercial needs. we speak to an expert at 10:50 cet about these opportunities. >>> in the meantime, we want to know are drones threatening our privacy or do you think that this could turn into a big business opportunity to use drones in all kinds of other business areas? get in touch here on "worldwide exchange." find us on e-mail, worldwide@cnbc.com or find us via twitter, @cnbcwex or find me directly on twitter, as well. @louisabojesen. blackberry z10 with time shift. built to keep you moving. see it in action at blackberry.com/z10 investors could lose tens of thousands of dollars on their 401(k) to hidden fees. is that what you're looking for, like a hidden fe
the city of dijon held a similar auction in january raising 150,000 euros to help fund its social services and analysts predict we could see more austerity driven wine sales across europe in the future. >>> now, unmanned aerial vehicles, better known as drones, are often associated with military operations. but some argue there's a great business opportunity behind the technology as drones capitalize on both national security and commercial needs. we speak to an expert at 10:50 cet...
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Jun 28, 2013
06/13
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Ñ [ male announcer ] citi is over 200 years old.o. and some difficult ones. but, through it all we've persevered, supporting some of the biggest ideas in modern history. so why should our history matter to you? because for more than two centuries, we've been helping ideas move from ambition to achievement. ♪ and the next great idea could be yours. ♪ >>> shares down in trade of sinovel. this is after the u.s. justice department has accused the wind turbine maker, china's biggest, of stealing software from the american firm asmc. it is alleged they were taken from computers in wisconsin to china. it was exported back to the states and what a u.s. attorney said is nothing short of attempted corporate homicide which robbed amsc of more than $800 million. >>> there has been a happy ending to another story that sounds like ail hollywood movie. chip starnes, the u.s. businessman held captive for a week, by workers at his company's plant in china is now back home on american soil. bertha has more for us from hq stateside. hi, bertha. >> ross, this has been one su
Ñ [ male announcer ] citi is over 200 years old.o. and some difficult ones. but, through it all we've persevered, supporting some of the biggest ideas in modern history. so why should our history matter to you? because for more than two centuries, we've been helping ideas move from ambition to achievement. ♪ and the next great idea could be yours. ♪ >>> shares down in trade of sinovel. this is after the u.s. justice department has accused the wind turbine maker, china's biggest,...
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Feb 4, 2013
02/13
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tina, from citi, she's been taking a look at what the president has to do, i guess, in his second term or what he's expected to do. what i loved was your point, how did you put it? fiscal deals or compromise tend to disappear in washington like -- >> the bermuda triangle. >> you don't have high hopes for compromise here? >> no. most politicians in the developed world, and the u.s. very much within this, it's not going to see -- i'm not going to provide fertile ground for grand bargains. politicians like to talk about it. this is their way of saying, we're ready to do a deal, but it's those guys, they won't compromise. we think we'll see more of this piecemeal last minute compromises. >> and we're fating critical issues in the u.s. people might be aware of the fiscal cliff, but there's the continuing resolution, there's the sequester that goes into effect march 1st. should we hold our breath for compromise here? and, again, the issue is being forced because these are situations in which if there's no action, something still happens. >> that's right. that's why we think it's really impor
tina, from citi, she's been taking a look at what the president has to do, i guess, in his second term or what he's expected to do. what i loved was your point, how did you put it? fiscal deals or compromise tend to disappear in washington like -- >> the bermuda triangle. >> you don't have high hopes for compromise here? >> no. most politicians in the developed world, and the u.s. very much within this, it's not going to see -- i'm not going to provide fertile ground for grand...
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May 20, 2013
05/13
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citi, they say if silver rebounds to 27, $28, we're near 21 at the moment, that that would be a buying opportunity. what do you think? >> i think medium term is a buying opportunity. $27 or $28 will probably be higher than where it is white now. in terms of fundamentals to increase outside long positions at the moment. >> when do we buy gold just because of the massive correction that we've had in gold? i know a lot of funds are being squeezed by gold at the moment. and you've got to wonder, when will the tide turn once again? >> i think the tight will turn when you get some of the usual market data that the growth market looks at becoming more supportive. disinflation, you have to get the reflation that central banks wanted. you need to see potentially on the exchange rate a move in emerging markets. but put it this way, everything that markets look at right now, that is the change and there's a whole other scenario. >> so does gold head higher than where we are in gold now? >> the next leg is lower in gold, i think. >> meeshgal, thank you very much. both bankers agreed that it's time
citi, they say if silver rebounds to 27, $28, we're near 21 at the moment, that that would be a buying opportunity. what do you think? >> i think medium term is a buying opportunity. $27 or $28 will probably be higher than where it is white now. in terms of fundamentals to increase outside long positions at the moment. >> when do we buy gold just because of the massive correction that we've had in gold? i know a lot of funds are being squeezed by gold at the moment. and you've got...